The future CEO of BP is native to the Gulf region

The BP tanker, which publishes its half-year results before stock exchange this morning, should announce at least 10 billion of provisions to take into account the damage of the oil spill in the Gulf of the Mexico. The gigantic major-232 billion of turnover in 2009 - must also confirm the departure of its Director General, Tony Hayward, which will be replaced by Robert Dudley. But, now that the leak of the Macondo field is about to be blocked, especially the future face of the group which is the order of the day.

BP may not simply of its gigantic calibrates to pay the consequences of the disaster, estimated between 30 and 90 billion dollars, one of the most serious in the history of the United States. "BP needs to raise capital all day on the financial markets and must present to investors a configuration in which they have confidence," said a banker of affairs of the City. The Group should therefore restructure. "The 7 billion of assets sold recently to Apache will allow to manage the problems of liquidity, but BP will not revert to its format of black tide", continues Alastair Syme, financial analyst at Nomura.

In the latter case, it is impossible to say today what major decisions will be taken because the leak is not permanently stopped and compensation are difficult to assess. But, in the six to nine months to come, is conceivable in the stalls.

Disposals of assets

For the time being, BP established a compensation fund of $ 20 billion, under pressure from the US Government, and promised to give 10 billion of assets in one year. In addition to assignments made to Apache, it has developed in sale of activities at the Viet Nam and in Pakistan to 1.7 billion. And after In the United States, the Group probably cannot do what he wants us, crucial assets for compensation of the victims of the oil spill efforts. To improve its reputation across the Atlantic, it could rebrand them "Amoco", the name of the company purchased in the United States a few years ago.

In this context, the replacement of Tony Hayward was probably inevitable, while it, at the head of the Group since 2007, has succeeded its mission until the fateful date of April 20. The Anglo-Saxon press reported yesterday that he should receive 1 million pounds of salary more than 11 million in respect of his pension for his departure. He should step down to Robert Dudley October 1, while remaining administrator until the end of the year. According to the "Financial Times", Tony Hayward would also incorporate the Council of the Russian subsidiary of TNK - BP. The future CEO of BP is native to the Gulf region. BP likely had no choice but to appoint an American, while the United States represent a quarter of its reserves and much of its future growth.

Net result on the rise

BP specialists financial analysts had difficulties these days to assess the amount of supplies that BP would pass to the title of the first half. "It would be unwise on their part to cover the whole of the 20 billion because would encourage their partners in the well, 35 shareholders, to consider that BP will all take in charge," felt yesterday Alastair Syme.

Out of Macondo, the net result of the group is expected around 5 billion, an improvement of almost 70 from the year last the rebound in the prices of oil and refining margins.